Current Affairs 15th May 2019

China Announces Retailatory Tariffs on $60 bn of US Goods — China raising tariffs on $60 of US goods after the latest increase in American tariffs on its exports. The move comes after the United States escalated the bitter trade war with a tariff hike on $200 bn of Chinese products. China will impose tariffs on a total of 5,140 US products from June 1,2019. The US will get back to the right track of bilateral trade and economic consultations and meet with China halfway.

ICICI Bank Along With Online Travel Booking Portal Goibibo Launched Co-Branded Multi-Currency Card — Industrial Credit and Investment Corporation of India Bank along with online travel booking portal Goibibo launched co-branded multi-currency card-Goibibo ICICI Bank Travel Card. Customers can use one card for multiple currencies and enjoy discounts on flights and hotel bookings. It can be used by anyone who are travelling abroad.

Bharti Airtel and HDFC Life Tied Up to Offer Insurance For Prepaid Customers — Bharti Airtel and the Housing Development Finance Cooperation Life had tied up to offer life cover for customers at a prepaid recharge of Rs 249. This new Rs 249 prepaid recharge will include 2 GB data, unlimited calls across all the networks and 100 SMS per day with an insurance cover of worth of Rs 4 lakh from HDFC Life. The recharge validity is for only 28 days.

Indian Army, Navy and Air Force Hold Joint Exercise in Andaman and Nicobar — Indian Army, Navy and Air Force hold joint exercise Bull Strike at Teressa Island in Andaman and Nicobar. The objective is to enhance their coordination in dealing with major security challenges which are currently facing the country and also to showcase joint operation capability of the Three forces, Indian Army, Navy and Air Force and further enhance operation coordination.

Central Government Has Extended The Ban on LTTE For An Additional 5 Years With Immediate Effect — The Central Government has extended the ban on the Liberation Tigers of Tamil Eelam for an additional 5 years with immediate effect. The notification stated that the LTTE’s prepetual violent activities are extremely detrimental to the integrity of our nation. LTTE has continuously been adopting a vehement anti-nationalist stand and has been posing as a grave threat to Indian’s safety and security.

Paytm Partners With Citibank to Launch 1st Credit Card – Paytm First Card — Digital payments company Paytm, in association with Citibank, launched its first credit card called Paytm First Card. Paytm First Card comes with unlimited cash back and will be accepted in India as well globally. The card is issued by Citibank and doesn’t involve any hidden fees or charges.

RBI Imposes Fine of Rs.1 Crore on Nainital Bank — The Reserve Bank of India has imposed a monetary penalty of Rs 1 crore on Nainital Bank for its failure to fully automate the non-performing asset identification process, despite specific directions issued in this regard. The penalty was imposed under the provisions of the Banking Regulation Act, 1949.

Japan Raises Complaint at WTO About India’s Mobile Import Duties — Japan raised a complaint at the World Trade Organization about India’s duties on mobile phones, base stations and routers, and the circuit boards and other components that go into them. Japan’s Complaint: The complaint said that India had sought to foster domestic production by adjusting various taxes including customs duties, especially since it launched the Make in India campaign in September 2014.

RBI Appointed R.Gandhi as Additional Director of Yes Bank — The Reserve Bank of India has appointed its former Deputy Governor R.Gandhi as an additional director on the board of private sector lender Yes Bank with immediate effect. The appointment is for two years, That is till May 13, 2021. R. Gandhi’s appointment comes against the backdrop of Yes Bank reported a loss of Rs 1,507 Cr for March quarter.

DRDO Conducted a Successful Flight Test of ABHYAS — The Defence Research and Development Organization conducted a successful flight test of ABHYAS, a High-speed Expendable Aerial Target at Balasore, Odisha. It was tracked by various Radars & Electro Optic Systems. The system performance was as per the simulations carried out. The test proved its performance in fully autonomous way point navigation mode, that is, a series of unique abstract GPS points that create artificial airways.